Play These India ETFs to Bet on Modi's Likely Election Win
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 30 2024
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Source: NASDAQ.COM
- India's Stock Market Performance: India's stock market has been performing well, with ETFs like SMIN, EPI, and INQQ showing gains over the past month.
- General Elections in India: India is currently undergoing general elections, with Prime Minister Narendra Modi expected to win another term, supported by significant investments from U.S. tech giants.
- IMF's GDP Growth Forecast for India: The IMF raised India's GDP growth projection for 2024-25 to 6.8% due to resilient domestic demand, with a forecast of 6.5% expansion for the following fiscal year.
- India's Tech and Business Ambitions: India is positioning itself as a global hub for technology and business, attracting investments from major tech companies like Apple, Google, and Amazon.
- Potential Fed Rate Cut Impact on India: The Fed may cut interest rates by late 2024, which could benefit emerging markets like India, leading to a possible tailwind for the Indian economy.
Analyst Views on EPI
Wall Street analysts forecast EPI stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for EPI is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 44.430
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Current: 44.430
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
